New York State Extends Rebate Program for USA Technologies' Energy Management Solutions.
NYSERDA, the administrator of the multimillion New York Energy $mart(SM) program extended the program following an increase in the number of operators of vending machines and glass fronted coolers applying for the rebate after fitting USA Technologies' EnergyMiser solutions.
"NYSERDA tested the VendingMiser and CoolerMiser and determined both easily qualify for the Energy $mart program by significantly reducing annual energy consumption in vending machines and glass fronted coolers," said Kim Schryer, Program Manager, NYSERDA. "Energy $mart traditionally focused on controlling the energy consumption for lighting and air conditioning, but there was no hesitation in extending the rebate program for vending machines and coolers because we've seen the real value they offer in reducing energy consumption."
NYSERDA, which is offering energy rebates for 40 separate programs under the New York Energy $mart(SM) project, is currently considering qualifying USA Technologies' energy management solutions for other energy consuming products.
USA Technologies' EnergyMiser solutions have the capacity to reduce energy consumption in vending machines, coolers, and other commercial appliances such as plastic wrapping machines by almost half, representing huge savings to owners and operators.
NYSERDA made the rebate program available to all commercial businesses, but is also targeting Government buildings, the hospitality industry and schools and colleges where vending machines and coolers are growing in number.
The program is designed to accelerate the incorporation of energy- efficient equipment in small renovation and equipment replacement projects in commercial, industrial, institutional, agricultural, governmental and multifamily buildings. The goal of the program is to produce a permanent improvement in "standard" equipment specification by encouraging the purchase and installation of energy-efficient equipment resulting in reduced electrical demand and cost in New York State.
"Our EnergyMiser solutions can reduce operating costs by as much as 50% percent almost immediately and quickly pay for themselves," said Wendy Jenkins, Vice President of Marketing for USA Technologies. "Fitting them to vending machines and coolers just makes good business and environmental sense, especially when they also have the capability of making commercial machinery ENERGY STAR(R) compliant to meet new energy consumption standards set by the Federal Government," he said.
USA Technologies has already established relationships with more than 200 energy and utility companies nationwide, with many offering rebates for its energy management products, some covering the entire cost including installation.
The Company estimates the more than 100,000 energy management devices it has already deployed in the marketplace is helping eliminate 18,828,400 kilowatt hours of electricity from the National Energy Grid, as well as reduce 'greenhouse' gas emissions by 110,000 tons of CO2 gas each year.
About USA Technologies:
USA Technologies is a leader in the networking of distributed assets, wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner and an inaugural member of the Sprint Enabling Application Service Provider Program for e-commerce. The Company has marketing agreements with the Sprint, Motient, MEI, Unilever and the ZiLOG Corporation. http://www.usatech.com/
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to the ability of the Company to increase revenues in the future, the ability to achieve a positive cash flow, the ability to obtain orders for or install its products, the ability to obtain new customers and the ability to commercialize its products (including the e-Port on a chip), which could cause actual results or revenues to differ materially from those contemplated by these statements.
USA Technologies Contact: Investor Relations Contact: George R. Jensen, Jr., Chairman & CEO Ken Sgro Stephen P. Herbert, President & COO CEOcast, Inc. Phone: (800) 633-0340 Phone: (212) 732-4300 e-mail: email@example.com
CONTACT: USA Technologies - George R. Jensen, Jr., Chairman & CEO, or Stephen P. Herbert, President & COO, firstname.lastname@example.org, both of USA Technologies, 1-800-633-0340; or Investor Relations - Ken Sgro of CEOcast, Inc., +1-212-732-4300
Web site: http://www.usatech.com/
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|Date:||Jul 20, 2004|
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